We know that the impacts of this virus have been financially life-changing for many of our members and small businesses. With a mission to improve the financial lives of the members we serve, if you have been financially impacted by the virus, know that we are here to assist you during this time. Here’s how:
No-fee Skip-A-Pay allows members to defer their monthly payment to a later date on select loans and credit cards. If your income has been disrupted as a result of sick leave or business closure for reasons related to COVID-19, for loans, please contact your local branch or call 800.922.0446 for more details. For credit cards, please call 800.654.7728.
Mortgage Payment Assistance
If you are in need of mortgage payment assistance, please click here.
Personal and Transportation Loan Payment Assistance
Do you have a personal loan, auto loan, motorcycle loan, or RV/boat loan with us? If so, and you need payment assistance, please click here.
Emergency Assistance Personal Loan
If you need quick access to funds (up to $1,500) to carry you through this time, please contact your local branch or call 800.922.0446 to learn more about our emergency loan option. You may also be able to benefit from a 90-day payment deferral if you choose. Easily apply online here and select “Personal Loan”.
Paycheck Protection Program Loan
What is the Paycheck Protection Program?
On April 3, the Small Business Administration announced the Paycheck Protection Program (PPP) Loan, approving a second round of funding on April 23. This loan is designed to help small businesses retain employees throughout and after the COVID-19 crisis. The SBA will forgive the loan for eligible borrowers if employees are kept on payroll for eight weeks and the loan funds are used for payroll, rent, mortgage interest, or utilities. Because of the streamlined requirements, more small businesses will qualify for the loan than previous SBA loan options.
Things to know:
- Your business (or nonprofit) had to be in operation as of February 15, 2020; AND
- You’re an independent contractor or sole proprietor; OR
- Your business has either employees or independent contractors for who are on payroll.
How to Apply?
To make the process as simple as possible for our members and local businesses, SC Telco has joined forces with Lendio. Lendio is a reputable-lending platform that specializes in small business loans and provides a streamlined online application to assist in processing the loan.
Note: By clicking Get Started, you will be taken to a third-party site that provides services to our members but have their own terms and conditions of use, accessibility standards, and privacy and security policies, which may differ from SC Telco. Please review their policies, terms and notices for more information. SC Telco does not operate or monitor their site, nor is responsible for the information, products or services offered.
No-fee Skip-A-Pay allows business members to defer their monthly payment to a later date on business credit cards. If your revenue has been disrupted or business closure for reasons related to COVID-19, please call 800.654.7728 for more details.
Small Business Mobile Check Deposit
We understand that small businesses are facing unprecedented hardships. In response to branch lobby closures, SC Telco will temporarily* allow small business members to use Mobile Check Deposit through the SC Telco Mobile App. This free service allows you to make business check deposits up to $5,000 daily (up to $2,500 per check) anytime, anywhere.
To get started, endorse your check properly including: your autograph, member number, and “For mobile deposit only SC Telco FCU”. Once complete, open the SC Telco Mobile Banking App, choose “Check Deposit” in the menu, take a picture, and tap “Deposit”.
*Once normal branch operations resume, Mobile Check Deposit services will only be available to consumer memberships.
Financial Wellness Resources
If you are not sure the next step to take financially, we have SC Telco Certified Financial Counselors available to talk with you at no-charge. Email [email protected] to schedule an appointment. Please also take advantage of Your Money Matters, our free online platform with a surplus of financial resources, or speak with GreenPath, our chosen non-profit organization that provides comprehensive counseling and money management tools to our members.